The post Metaplanet Keeps Buying Bitcoin at $60K Dip appeared on BitcoinEthereumNews.com. Japan’s Metaplanet plans to buy more Bitcoin as BTC drops to $60,000, The post Metaplanet Keeps Buying Bitcoin at $60K Dip appeared on BitcoinEthereumNews.com. Japan’s Metaplanet plans to buy more Bitcoin as BTC drops to $60,000,

Metaplanet Keeps Buying Bitcoin at $60K Dip

Japan’s Metaplanet plans to buy more Bitcoin as BTC drops to $60,000, despite an 8% stock decline and rising unrealized losses.

Japan-based Bitcoin treasury firm Metaplanet has reaffirmed its plan to keep buying Bitcoin despite a sharp market decline.

Bitcoin fell to around $60,000 during early Asian trading, while broader crypto markets remained under pressure.

The firm confirmed there would be no change to its accumulation strategy, even as volatility increased and investor sentiment weakened.

Metaplanet Maintains Bitcoin Accumulation Strategy

Metaplanet stated it would continue purchasing Bitcoin despite the ongoing price decline.

The firm confirmed its approach remains unchanged during the current market downturn. It continues to focus on long-term Bitcoin accumulation.

The update was shared by Metaplanet CEO Simon Gerovich in a post on X. He said the company understands the challenges faced by shareholders.

He added that the firm would keep accumulating Bitcoin and expanding revenue.

Gerovich said, “There is no change to Metaplanet’s strategy.” He added the company will continue preparing for future growth.

The firm did not disclose new purchase volumes or timelines.

Bitcoin Price Slides as Market Pressure Builds

Bitcoin dropped to nearly $60,000 during early Asian trading hours on Friday. The price later recovered toward the $65,000 range.

The move followed a broader sell-off across risk assets.

Bitcoin drops toward $60,000 amid selloff, signaling market pressure TradingView

The decline has extended Bitcoin’s current bearish trend. Institutional portfolios have faced large valuation losses during this period.

Market data shows continued selling pressure across major trading sessions.

Analysts noted that Bitcoin has lost close to half its value from the October peak. Market participants remain cautious as volatility persists.

Liquidity conditions also remain tight across crypto markets.

Metaplanet Stock Declines Amid Unrealized Losses

Metaplanet’s stock fell by about 5% at the start of Friday trading. The drop followed continued weakness in Bitcoin prices.

Investors reacted to rising unrealized losses tied to digital assets.

Metaplanet stock price daily chart

The firm has not disclosed the total size of its unrealized losses. However, management acknowledged recent stock price pressure.

The company said it remains focused on its treasury strategy.

Other Bitcoin treasury firms have also reported similar challenges. Strategy, led by Michael Saylor, has reported billions in unrealized losses.

Like Metaplanet, Strategy has said it will continue buying Bitcoin.

Related Reading:  Japan Firm Metaplanet Moves to Raise $137M for Bitcoin Accumulation

Traders Bet on Further Bitcoin Declines

Market data from Polymarket shows most traders expect further downside. About 76% predict Bitcoin could fall below $55,000. Some forecasts point to even lower levels.

Stifel analysts have projected a possible drop toward $38,000. The firm based its view on past bear market patterns. Similar trends were observed in 2018 and 2022.

Despite these forecasts, some firms continue to accumulate Bitcoin. Metaplanet has confirmed it will not pause purchases. The company said its strategy remains focused on long-term positioning rather than short-term price moves.

Source: https://www.livebitcoinnews.com/metaplanet-defies-bitcoin-crash-plans-more-btc-buys-at-60k/

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